For new entrants starting out on their first foray into shares, the ASX listings must look more than a little confusing.
Perhaps a tip from an office colleague or an overheard conversation at the pub mentioning a certain 'hot' share sparked their interest – but when they try to convert these titbits of information into a financial reality by buying shares, they face the maze which we know as the ASX share register, or asx.com.au.
This site actually holds an absolute treasure trove of relevant information for the novice investor, it just takes a little time to learn how to navigate the website and retrieve the information you need.
Opening the vault
There's no doubt that navigating the ASX share register can be confusing for newbies. But what first appears to be a maze can soon become much clearer with a few tips and a little more familiarity with the share market.
Tip one is to learn how to find your share's 3 letter code, or ticker code (which acts as its unique identifier on the share market).
Go onto the ASX website and you'll see an empty box marked 'Share Prices". Next to this box are the words "Find a code". Click on this.
Now, let's say you have an interest in supermarket giant Coles. Simply start typing Coles into the box. The ASX ticker code 'COL' should appear immediately. Go back to the 'Share Prices' box and enter the code this into the "Search again" box and you're away!
Want to learn more? It's all here!
How has the share you're interested in been performing over the past 6 months? Just click on "Chart" (third column from the right) and you'll see its price history for the last 6 months. Sticking with Coles shares, as an example, the chart will display the shares' high point. Has its price been falling or increasing? The graph will display all the detail.
What news has your share been delivering to investors? These announcements are demanded by the ASX when any information is considered necessary to shareholders. All recent releases are captured on the ASX site in the far right hand column titled "Announcements". Click on this tab and you'll be able to read all the recent releases published by the stock.
The more you can learn about each share, its performance and its prospects, the better informed you will be.
Packed with information
The ASX website is really worth exploring because it is literally full of information. You can check on your stock's performance for the day. At what price did it open? What was its high point and its low? And what volume of your chosen shares were traded today?
Once again, the information is all there.
You can also check other prices including bonds, hybrids and options, find out what dividends individual shares are paying and even get advice on upcoming share floats.
Familiarity breeds content
Like all unfamiliar technology, the ASX register can appear daunting at first sight, but the more you explore, the more familiar you will become with the huge volume and variety of information it stores.
So now, it's over to you. Put aside a half hour and start your own journey through the maze that is the ASX share register. You could be very pleasantly surprised with what you learn.
